Principal Financial Group Inc (NYSE:PFG) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan lowered its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,579 shares of the financial services provider’s stock after selling 6,500 shares during the quarter. State Treasurer State of Michigan’s holdings in Principal Financial Group were worth $5,249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. grew its position in Principal Financial Group by 18.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 588,719 shares of the financial services provider’s stock valued at $37,877,000 after buying an additional 92,391 shares during the period. Arcadia Investment Management Corp MI grew its position in Principal Financial Group by 16.7% during the third quarter. Arcadia Investment Management Corp MI now owns 7,325 shares of the financial services provider’s stock valued at $471,000 after buying an additional 1,050 shares during the period. Assenagon Asset Management S.A. bought a new position in Principal Financial Group during the third quarter valued at about $3,839,000. BerganKDV Wealth Management LLC bought a new position in Principal Financial Group during the third quarter valued at about $384,000. Finally, Mutual of America Capital Management LLC grew its position in Principal Financial Group by 11.7% during the third quarter. Mutual of America Capital Management LLC now owns 62,782 shares of the financial services provider’s stock valued at $4,039,000 after buying an additional 6,580 shares during the period. Institutional investors own 68.58% of the company’s stock.

In other news, insider Nora Mary Everett sold 12,398 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $843,064.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Daniel Joseph Houston sold 38,097 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $2,590,596.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,537 shares of company stock worth $9,313,955. Insiders own 1.50% of the company’s stock.

Principal Financial Group Inc (PFG) traded down $0.36 during midday trading on Friday, reaching $68.06. 840,100 shares of the company’s stock traded hands, compared to its average volume of 1,166,778. Principal Financial Group Inc has a 1-year low of $56.12 and a 1-year high of $69.95. The stock has a market capitalization of $19,652.66, a P/E ratio of 13.27, a PEG ratio of 1.30 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the company posted $1.15 earnings per share. equities research analysts expect that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.88%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, December 1st. Principal Financial Group’s dividend payout ratio is presently 30.82%.

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Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Wells Fargo & Company set a $76.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price target for the company. Morgan Stanley increased their price target on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $74.00 price target on shares of Principal Financial Group in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.40.

About Principal Financial Group

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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